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Gogo Surges 17% After American Airlines Dismisses Lawsuit

Courtesy of Benzinga.

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Mid-Afternoon Market Update: Dow Jumps 200 Points; Community Health Systems Shares Drop On Downbeat Results
American Airlines Could Simply Be Negotiating With Gogo…Or It Might Be More Serious
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Shares of Gogo Inc (NASDAQ: GOGO) gained more than 17 percent on Monday after the company announced that American Airlines Group Inc (NASDAQ: AAL) dismissed the declaratory judgement action it filed against the company on February 12.

Related Link: American Airlines Lawsuit Pushes Gogo Shares Down 30%

American Airlines sued Gogo on February 12 as part of an agreement between the two companies in which the airline can sue the provider of in-flight Internet access if it finds a competing company that can offer a superior service to Gogo’s.

Gogo confirmed on Monday that American Airlines dismissed the declaratory judgement action but did not provide any further details.

Shares of Gogo traded recently at $11.45, up 14 percent.

Posted-In: American Airlines Gogo In Flight Internet AccessNews Legal Movers

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